Avidbank Holdings Inc. (NASDAQ:AVBH) Short Interest Update

Avidbank Holdings Inc. (NASDAQ:AVBH) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 85,200 shares, an increase of 703.8% from the September 15th total of 10,600 shares. Based on an average daily volume of 40,800 shares, the short-interest ratio is presently 2.1 days. Currently, 1.2% of the shares of the company are sold short. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 40,800 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Avidbank to a “hold” rating in a report on Saturday, September 20th. Piper Sandler assumed coverage on shares of Avidbank in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $31.00 price objective for the company. DA Davidson lifted their price objective on shares of Avidbank from $27.00 to $31.50 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Avidbank in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.25.

Avidbank Stock Performance

AVBH opened at $24.96 on Friday. The stock has a market cap of $273.06 million, a P/E ratio of 8.13 and a beta of 0.58. Avidbank has a twelve month low of $19.50 and a twelve month high of $26.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

Avidbank (NASDAQ:AVBH) last posted its quarterly earnings results on Monday, August 25th. The company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $21.83 million for the quarter. Avidbank had a net margin of 15.89% and a return on equity of 11.51%.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.